News

Olainfarm’s Sales in August Reach 2.35 Million Lats

on September 15, 2011

Preliminary sales figures of JSC Olainfarm for August 2011 show that sales during this period were 2,35 million lats (3.34 million euro), which represents a decrease by 14% compared to similar period a year ago. Sales to Kazakhstan have increased 18 times, to Ukraine by 130%, to Lithuania by 43% and in Latvia by 24%. Sales have fallen to Uzbekistan, Russia and Belarus, where during the August of the last year, particularly big shipments were made. Major sales markets of JSC Olainfarm in August 2011 were Russia, Ukraine, Latvia and Kazakhstan.

% of total sales

Changes to August 2010

Russia

38%

-48%

Ukraine

29%

130%

Latvia

9%

24%

Kazakhstan

7%

1738%

Uzbekistan

4%

-60%

Italy

4%

NA

Belarus

3%

-41%

Canada

2%

NA

Lithuania

1%

43%

Moldova

1%

-4%

Other

2%

-51%

Total

100%

-14%

During eight months of 2011, according to preliminary results, sales of JSC Olainfarm have reached 23.01 million lats (32.74 million euros) – which is an increase by 35% compared to similar period a year ago. The most significant sales increases were achieved in Canada, where sales grew 43 times, The Netherlands, 9 times, Ukraine by 134%, Latvia by 48%, Lithuania by 37%, Kazakhstan by 26% and Uzbekistan where sales increased by 23%. The major sales markets of JSC Olainfarm during eight months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

% of total sales

Increase to 8 months of 2010

Russia

39%

11%

Ukraine

25%

134%

Belarus

8%

8%

Latvia

6%

48%

Kazakhstan

5%

26%

UK

3%

0%

Uzbekistan

2%

23%

The Netherlands

1%

807%

Lithuania

1%

37%

Canada

1%

4216%

Other

7%

15%

Total

100%

35%

Operating plan and budget of JSC Olainfarm for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 8 months of 2011 the company has made 78.2% of sales planned for the entire 2011.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.